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Rating:Another Oakmark Fund Lets New Investors In
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Friday, May 09, 2008

Another Oakmark Fund Lets New Investors In

by: Armie Margaret Lee

Harris Associates on Friday reopened its Oakmark Global Fund, which closed to most new investors in December 2003.

"In the years that the Fund was closed, the desire of existing investors to add to their accounts fully offset the needs of existing investors to sell their shares," said Rob Taylor, the fund's portfolio manager."Over the past several months that no longer held true."

In January, Chicago-based Harris Associates reopened the Oakmark International Fund, which closed to new investors in December 2003, and the Oakmark International Small Cap Fund, which had been closed since May 2002.


Company Press Release

CHICAGO, May 9 /PRNewswire/ -- Harris Associates L. P. announced today that The Oakmark Global Fund will re-open to all investors on May 9, 2008. The Oakmark Global Fund, which was launched on August 4, 1999, closed to most new investors on December 15, 2003.

"In the years that the Fund was closed, the desire of existing investors to add to their accounts fully offset the needs of existing investors to sell their shares. Over the past several months that no longer held true," says Rob Taylor, portfolio manager of The Oakmark Global Fund. Clyde McGregor, also portfolio manager of the Fund says, "We're excited about the investment opportunities we're seeing around the world and believe that restoring the balance between purchases and sales is in the best interest of Fund shareholders."

For more information about The Oakmark Global Fund, please visit oakmark.com. Prospective investors can purchase shares directly from Oakmark by visiting oakmark.com or calling 1-800-OAKMARK (625-6275).

ABOUT THE OAKMARK GLOBAL FUND:

The Oakmark Global investment philosophy is centered in the belief that superior, long-term results are achieved through investing as owners in quality companies that can be purchased at a significant discount to their true economic value.

The Oakmark Global Fund seeks capital appreciation by investing in a portfolio of approximately 40-60 small- to large-cap companies from around the world.

ABOUT THE OAKMARK FUNDS AND HARRIS ASSOCIATES L. P.:

The Oakmark Funds are a $32 billion mutual fund family that utilizes a long-term value investment approach. Harris Associates L. P., a Chicago-based investment management firm founded in 1976, serves as the Adviser to The Oakmark Funds and manages domestic, international and global portfolios for institutional and high net worth investors. The Oakmark Funds are distributed by Harris Associates Securities L. P., member FINRA. For more information including management fees and expenses and the special risks of investing, visit oakmark.com or call 1-800-OAKMARK for a prospectus. An investor should consider a fund's investment objectives, risks, and charges and expenses carefully before investing. This and other information are contained in the prospectus.  

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